Digital Assets Report 65
- Ex a16z veteran Katie Haun raises $1.5 billion for her own Web3 Fund
- Blackrock CEO Larry Fink claims that Ukraine-Russia conflict can accelerate the adoption of cryptocurrencies
- Bank of International Settlement confirm that institutions can use CBDCs for international settlements
- Bitcoin and Crypto Market Cap break above $46k & $2.2bn to reach monthly highs respectively
Business
Andreessen Horowitz Vet Katie Haun Raises $1.5 Billion for Web3 Fund - Decrypt
Katie Haun left Andreessen Horowitz (a16z) in December 2021 to start her own venture capital firm.
Jeff Benson
Bridgewater Associates Prepares to Back its First-Ever Crypto Fund: Reports
As mainstream hedge funds pour billions of dollars into the digital asset space, Bridgewater Associates is the latest to join the race by backing a new crypto fund.
Chayanika Deka
Wall Street Bank Cowen Launches Spot Crypto Trading for Institutions (Report)
The US multinational investment bank is among the first on Wall Street to launch spot cryptocurrency trading.
Jordan Lyanchev
Bored Apes Creator Yuga Raises $450 Million to Fund Expansion
Olga Kharif
Crypto.com Nabs FIFA World Cup Sponsorship for Undisclosed Sum
The exchange is adding the world’s most storied soccer tournament to its growing list of sports sponsorship deals.
Eli Tan
Exxon Mobil Powering Bitcoin Mining Pilot Using Excess Natural Gas: Report - Blockworks
Exxon Mobil is hoping its pilot to utilize unspent natural gas will provide enough energy to power its Bitcoin mining operation.
Stephen
FTX Ventures Invests $100 Million in Money App Dave - Decrypt
FTX US will serve as the exclusive cryptocurrency partner of Dave, a financial app looking to compete with Venmo and Cash App.
Jason Nelson
Stargate Finance attracts $1.9B in six days
Stargate Finance, a cross-chain protocol that solves the “bridging trilemma” has become a top 10 DeFi project in just 6 days, following a massive pre-launch purchase from Alameda Research that saw 10% of the total supply immediately locked.
Tom Mitchelhill
Avalanche launches $100 million creator fund with Grimes and web3 platform Op3n
Avalanche launches $100 million creator fund with Grimes and web3 platform Op3n - The Avalanche Foundation and web3 social media platform Op3n announced a $100 million initiative for creatives to build projects on Avalanche as the blockchain ...
Chip giant Qualcomm launches $100M Metaverse fund
The firm also teased that grant will give access to XR platform “technology, hardware kits, a global network of investors and co-marketing and promotion opportunities.”
Brian Quarmby
Grayscale launches fund holding Ethereum alternatives - The Block Crypto - Black Crypto Trading.com
DeFi March 22, 2022, 8:30AM EDT · 1 min read advertisement Grayscale has launched a new fund providing exposure to a variety of smart contract ecosystems that have emerged amid the growth of decentralized finance (DeFi). The Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE) holds Cardano…
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DeFiance Capital Founder Loses $1.7M in NFTs To Phishing Scam - Decrypt
Arthur Cheong, the founder of the DeFi and crypto gaming fund, has had $1.7 million in various NFTs stolen from his crypto wallet.
Liam J. Kelly
Solana Cashio Hack Loots $52.8M: Investigations Reveal Surprising Facts
Crypto trading platform Bybit said that the hack drained $52.8 million worth of stablecoins including USDC, USDT and UST from Cashio and Saber.
SushiSwap community proposes Swiss legal structure to limit DAO liability
The proposer estimates an upfront expense of up to $100,000 and a recurring cost of $10,000 to set up the foundation
Arijit Sarkar
Tether (USDT) Is Hinting at Big Moves Coming for Crypto, According to Analytics Firm – Here’s Why
A leading crypto analytics firm says that surging Tether (USDT) activity could mean big price movement on the horizon for the overall crypto markets. In a new tweet, Santiment notes that last Thursday and Saturday were the two largest days of 2022 in terms of USDT active addresses interacting on the…
John
#Bitcoin mining has improved its energy efficiency by 40,000%+ since 2013. Try to name another industry which comes close to this number… you can’t.
— Dennis Porter (@Dennis_Porter_) March 22, 2022
Terra’s UST stablecoin adopting the bitcoin standard is a welcomed development. #Bitcoin is for everyone.
— Pomp 🌪 (@APompliano) March 23, 2022
Markets
Market Intelligence 19
BTC gains 8.9% in a week in part due to a cautious FOMC Higher likelihood of a continued price uptrend according to various indicators Increased activity and implied volatility in futures and options markets respectively Available BTC supply continues to decrease Weekly Price Action BTC is currently…
Rayan Khan
Bitcoin’s Correlation to S&P 500 Hits 17-Month High
The 90-day correlation between the top cryptocurrency and the S&P 500 has risen to its highest level since October 2020.
Omkar Godbole
Over $30 billion pumps into Ethereum’s market cap in 7 days as ETH outshines Bitcoin
Second-ranked cryptocurrency Ethereum appears to have found a short-term footing with the asset recording an increase in capital inflows.
Justinas Baltrusaitis
The symmetry of the Bitcoin chart is something. The recent decline from 68,992 to 32,970 (-36,022) is nearly the same as the -36,046 drop in 2021. So far, the triangle pattern is nearly the same as well, as is the 50d rate of change (bottom panel). Will history repeat? pic.twitter.com/QaELHrx0HY
— Jurrien Timmer (@TimmerFidelity) March 23, 2022
Regulations
It’s Official: EU Says No to Provisions Restricting Bitcoin
EU”s heavily debated MiCA regulation is moving forward but without the provisions of the PoW ban.
George Georgiev
SEC Delays Decision On WisdomTree, One River Spot Bitcoin ETF Proposals
Earlier in February, SEC delayed a decision on whether to allow the listing of a spot Bitcoin exchange-traded fund by Bitwise Asset Management and sought further clarification from the company.
Anjali Kochhar
Rio de Janeiro to Allow Paying Taxes with Crypto Starting from 2023
Rio de Janeiro will be the first Brazilian city to allow its residents to pay taxes with crypto
Alex Dovbnya
Thailand SEC bans crypto payments, seeks disclosure of system failure from exchanges
Thai SEC discouraged businesses in the region from accepting crypto payments from April 2022 after discussing its implications with the Bank of Thailand.
Arijit Sarkar
BIS joint pilot: Institutions can use CBDCs for international settlements
The developers of the project claimed that Project Dunbar illustrated how governance structures can meet important concerns of trust and shared control.
Prashant Jha
Indian Government Reveals How It Plans to Tax Cryptocurrency Transactions – Taxes Bitcoin News
India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions.
Taxes
Opinions
BlackRock’s Fink says Russia-Ukraine war could accelerate use of cryptocurrencies
Russia’s invasion of Ukraine could accelerate the adoption of digital currencies by people and central banks, according to BlackRock’s Larry Fink.
Treasury Secretary Janet Yellen: Crypto Innovation ‘Can Be a Healthy Thing’ - Decrypt
Treasury Secretary Janet Yellen said in 2018 that she was “not a fan” of Bitcoin. Her recent comments about crypto are less negative.
Jeff Benson
Readings / Podcasts
Explained: What ‘The Merge’ in Ethereum’s shift to Proof-of-Stake consensus really means
The price and market cap of Ethereum increases are influenced by the upcoming ‘The Merge’ - the upgrade to mark the platform’s switch to PoS .
Ana Nicenko